Is Accounts Receivable Accrued Revenue?
Previously, we studied about “ Is Accounts Receivable A Revenue ”, but here we will study about the very important and basic Accounting Question that is, Is Accounts Receivable Accrued Revenue” or Accounts Receivable VS Accrued Revenue. The fundamental difference between Accounts Receivable And Accrued Income existed with respect to Sales And Income. The Accounting Term “Accounts Receivable” is used in case of Sales of goods or services or Assets, Plants, Supplies, etc., and The Accounting Term, “Accrued Revenue” is used in case of Income. Goods or Services sold for the purpose of earning revenue is called Sales or it is the price of goods sold or services rendered to customers on Cash or Credit Basis, Accounts Receivable is also created in case of Sales of Assets, Plants, Supplies that are used in the business and not for resale purposes while For Accrued Revenue we are concerned in income that is the amount left after deducting all the relevant...